Canara Bank reduces Interest rates on loans/advances by 10 basis points for Overnight and One Month tenor with effect from 07.02.2021
8th February 2021, Mumbai : Canara Bank, a leading Public Sector Bank, has reduced its Marginal Cost of Funds Based Lending Rate (MCLR) on Loans / Advances by 10 basis points for Overnight and One Month tenor with effect from February 7, 2021.
Accordingly, the tenor linked MCLRs of the Bank shall be as under with effect from 07.02.2021:
| Tenor | Interest Rate (in %) |
| Overnight MCLR | 6.70% |
| One-Month MCLR | 6.70% |
| Three- Month MCLR | 6.95% |
| Six-Month MCLR | 7.30% |
| One Year MCLR | 7.35% |
Repo Linked Lending Rate (RLLR) continues to be at 6.90%.